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FTSE pushing higher from support
The FTSE 100 is rallying once more this morning, after a pullback following yesterday’s break higher. Today’s price action has found support on the July 2015 peak of 6808, with another leg higher seeming likely.
From here, clearly the next resistance to contend with is yesterday’s high of 6829. However, it is clear that we are seeing a relatively gradual trend higher and as such, the continued creation of higher highs and higher lows is expected. As such, as long as price remains above 6803 and in particular 6782, a bullish outlook remains for a push towards 6829 and 6870.